High street chain Marks & Spencer will continue to trade in Castleford town centre as well as opening a store at the new Five Towns Park development.
The retailer initially announced plans to open a new full-range shop, at the £135m park off junction 32 of the M62 motorway in Glass Houghton, in January.
But its current shop on Carlton Road would have shut down under the relocation proposals, and fears were raised that the closure would have been a real blow for town centre trade.
Now Five Towns Park developer Lateral Property Group has pledged to invest to secure the future of the Castleford store.
After listening to concerns from residents and town centre businesses, Lateral and Coun Denise Jeffery, cabinet member for economic growth and skills worked with M&S to fix the deal.
Coun Jeffery said: “I am absolutely delighted that Lateral and M&S have listened to our concerns and have reacted so positively.
“It is vitally important that all of Castleford benefits from the development, including the town centre.”
The M&S in Carlton Street, Castleford will remain open for a minimum of three years after the new store opens.
Coun Jeffery said: “As is standard practice within the retail sector, M&S continually analyse the performance of their stores.
“It is important that people use the store if they want M&S to remain in Castleford town centre for the longer term.”
Wakefield Council granted Lateral planning permission for the Five Towns Park development, close to the Xscape leisure complex, last February.
Other retailers which have signed up to open at the site when it is complete include Primark and Next.
Lateral will invest in the Castleford M&S store as part of a package of ‘mitigation measures’, designed to secure the future vitality of the town centre alongside the new Five Towns Park.
Coun Jeffery said: “The total value of community benefit measures to be funded by Lateral, and which will be secured under the Section 106 legal planning agreement, are now in excess of £35 million, including the new Castleford Tigers Community Stadium.
“In uncertain times, this investment in the Five Towns must be welcomed with open arms.”
The Five Towns Park development will include the new 10,000 capacity stadium, a country park, shops, restaurants and a petrol station. It could create 2,000 new jobs for the community.
To find out more about the development, visit fivetownspark.co.uk.